Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 5

Read and outline an article The accounting profession is frequently in the news, not always in the most positive light. The purpose of this assignment is to increase your awareness of an issue facing the profession.

Required:

Find, read, outline, and prepare to discuss a brief article from a general audience or business audience publication about accounting and/or the accounting profession. The article should have been published within the past eight months and should relate to accounting or the accounting profession in general; it should not be about some technical accounting issue. The appropriate topical headings to use in the Business Periodicals Index or the computer-based retrieval system to which you have access are accountants, accounting, and/or accounting (specific topic).

Step 1 of 2

Accounting profession:

Accounting is the profession of accountants whose business is to record business transactions in a systematic and comprehensive manner. Their work includes summarizing, analysing and reporting those financial statements to different users like organization, government and investors etc. Accounting helps in creating financial statements using the Generally Accepted Accounting Principles (GAAP).